UPDATE 1-Standard Bank, ICBC to fund Botswana power plant

* $825 mln loan for 20 yrs to finance power plant expansion

* Providing $140 mln bridge finance facility (Adds details)

JOHANNESBURG May 12 (Reuters) - Standard Bank (SBKJ.J) and Industrial and Commercial Bank of China (ICBC) (1398.HK) will finance the expansion of a coal power station in Botswana for $825 million over 20 years, Standard Bank said on Tuesday.

Standard Bank, which is 20 percent owned by ICBC, said the firms would also provide a $140 million bridge finance facility for Morupule B Power Station in eastern Botswana.

The deal is the first major transaction between Standard Bank and ICBC, and was backed by a guarantee from Botswana's ministry of finance.

"There is little doubt that had it not been for our strategic partnership with ICBC, we would not have been able to undertake the funding of a project of this scale," Standard Bank Chief Executive Jacko Maree said in a statement.

"Our partnership with ICBC has opened a unique financial services gateway between Africa and China and this project will hopefully the first of many that are in the pipeline."

The $1.6 billion Morupule coal power station is part of Botswana's strategy to secure power supply by expanding the existing generating capacity as well as improving the southern African country's self-reliance.

The power station will have four 150 MW units and will be a coal-fired and air-cooled power plant.

ICBC's client China National Electric Equipment Corporation has been awarded a $970 million contract to supply and build part of the power station. (Reporting by Serena Chaudhry)